The cryptocurrency market has seen a huge boom after Donald Trump won the US presidential election, boosting investor confidence.
November saw the total market capitalization jump by over $1 trillion. It hit $2.2 trillion at the start of the month and moved to $3.2 trillion by the end of the month.
Seeing this, many analysts drew parallels with previous bullish cycles. This trend is one of the most significant recoveries in recent years.
This growth reflects the market peak in 2021 driven by speculative investment and stimulus-driven confidence.
Leading crypto firm OKX in a statement on its X platform said the total market cap for crypto increased by over $1 trillion in November, raising questions about the market cap in December.
BTC and Ethereum (ETH), the two leading cryptocurrencies by market capitalization, played a key role in the extraordinary market growth in November.
The digital giant accounted for the bulk of the $1 trillion market cap surge with BTC alone maintaining over 50% dominance throughout the month.
